MENA: Smoked Herring Market 2024

Smoked Herring Market Size in MENA

The MENA's smoked herring market reduced modestly to $X in 2022, flattening at the previous year. Over the period under review, consumption recorded a deep downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Smoked Herring Production in MENA

In value terms, smoked herring production dropped modestly to $X in 2022 estimated in export price. Overall, production faced a deep setback. The most prominent rate of growth was recorded in 2021 when the production volume increased by 5.7%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Smoked Herring Exports

Exports in MENA

After two years of decline, shipments abroad of smoked herrings increased by 117% to X tons in 2022. Over the period under review, exports saw resilient growth. The growth pace was the most rapid in 2014 when exports increased by 301%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, smoked herring exports skyrocketed to $X in 2022. Overall, exports recorded a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 296% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Egypt (X tons) was the key exporter of smoked herrings, generating 68% of total exports. It was distantly followed by Jordan (X tons), making up a 28% share of total exports. Oman (X tons) and Turkey (X tons) took a relatively small share of total exports.

Exports from Egypt increased at an average annual rate of +5.6% from 2012 to 2022. At the same time, Jordan (+95.5%), Oman (+55.7%) and Turkey (+4.7%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in MENA, with a CAGR of +95.5% from 2012-2022. While the share of Jordan (+28 p.p.), Oman (+2.6 p.p.) and Turkey (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Egypt (-32.1 p.p.) displayed negative dynamics.

In value terms, Egypt ($X) remains the largest smoked herring supplier in MENA, comprising 72% of total exports. The second position in the ranking was taken by Jordan ($X), with a 23% share of total exports. It was followed by Turkey, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value in Egypt stood at +4.8%. In the other countries, the average annual rates were as follows: Jordan (+50.9% per year) and Turkey (-2.8% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, growing by 6% against the previous year. Overall, the export price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2020 when the export price increased by 48% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (-0.7%), while the other leaders experienced a decline in the export price figures.

Smoked Herring Imports

Imports in MENA

Smoked herring imports dropped to X tons in 2022, which is down by -14.8% on the previous year. Total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.8% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 92%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, smoked herring imports skyrocketed to $X in 2022. In general, imports recorded a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 63%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Kuwait (X tons), Bahrain (X tons), Oman (X tons), the United Arab Emirates (X tons) and Qatar (X tons) represented the major importer of smoked herrings in MENA, generating 88% of total import. It was distantly followed by Egypt (X tons), mixing up a 4.6% share of total imports. Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bahrain (with a CAGR of +37.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest smoked herring importing markets in MENA were Qatar ($X), Oman ($X) and Bahrain ($X), together accounting for 62% of total imports. Kuwait, the United Arab Emirates, Egypt and Turkey lagged somewhat behind, together accounting for a further 32%.

In terms of the main importing countries, Turkey, with a CAGR of +32.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, rising by 43% against the previous year. Overall, the import price, however, continues to indicate a pronounced slump. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform